https://www.engineeringnews.co.za

Tribunal confirms 13 construction settlement agreements

Tribunal confirms 13 construction settlement agreements

Photo by Duane Daws

22nd July 2013

By: Idéle Esterhuizen

  

Font size: - +

The Competition Tribunal on Monday confirmed all but two of the construction settlement agreements between the Competition Comission and 15 major construction firms.

Last week, the tribunal heard the settlement agreements between the commission and the construction firms, which, in June, agreed to pay penalties totalling a collective R1.46-billion for collusive tendering in contravention of the Competition Act.

In terms of the Act, the tribunal must confirm a settlement agreement between the commission and a respondent in order for the settlement to be legally enforceable.

The tribunal had confirmed the settlements between the commission and Basil Read, Esorfranki, G Liviero, Haw & Inglis, Hochtief, Murray & Roberts, Norvo, Raubex, Rumdel, Stefanutti Stocks, Tubular Technical Construction, Vlaming and Wilson Bayly Holmes-Ovcon.

However, it had not yet confirmed the R306.58-million settlement agreement between the commission and Aveng or the R3.55-million settlement between the commission and Guiricich Bros Construction, as it was still awaiting outstanding information on these agreements.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.163 0.222s - 157pq - 2rq
Subscribe Now